U.S. Small & Mid Cap Biotechnology: ASCO '26: Abstracts Takeaways & Read-Throughs

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U.S. Small & Mid Cap Biotechnology: ASCO '26: Abstracts Takeaways & Read-Throughs

Equity Research

U.S. Small & Mid Cap Biotechnology

22 May 2026

ASCO '26: Abstracts Takeaways &

Read-Throughs

We highlight below our key takeaways from the ASCO regular U.S. Small & Mid Cap Biotechnology

abstract release for EXEL, KURA, LEGN, NUVL ONC, POSITIVE

SMMT, SNDX U.S. Small & Mid Cap Biotechnology

Etzer Darout, PhD, MBA

+1 212 526 6940

Regular abstracts for the upcoming American Society of Clinical Oncology (ASCO) annual etzer.darout@barclays.com

meeting next weekend in Chicago were published post-close, and we highlight presentations BCI, US

from our coverage and readthroughs to our coverage that we found impactful. Late breaking Gustave Diep, MD

abstracts will be released on the morning of the presentation's day of the conference. See our +1 212 526 0347

conference planner here. gustave.diep@barclays.com

BCI, US

Exelixis

Lukas Shumway, PhD

• In a poster for STELLAR-303 in CRC, the contribution atezolizumab (atezo) to the zanza plus +1 212 526 7293

atezo arm was determined by the difference in PFS and OS between patients with lukas.shumway@barclays.com

treatment-emergent anti-drug antibodies (TEADA) and those without. TEADA-positive BCI, US

patients had reduced improvements in PFS and OS versus regorafinib as compared to TEADA- Jordan Becker, PhD

negative patients. PFS hazard ratio was 0.81 for TEADA-positive versus 0.59 for -negative and +1 212 526 3960

OS HR was 0.79 for TEADA-positive versus 0.72 for TEADA-negative, indicating atezo jordan.becker1@barclays.com

contributes more to PFS benefit than OS benefit (link), but provides some benefit to both. BCI, US

• In an oral presentation from an independent sponsored Phase 2 trial of cabo plus nivo in